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Posted On: 01/03/2022 6:35:16 AM
Post# of 2062
Mexus Signs LOI for its Mabel Property; Gold Production Continues at its Santa Elena Mine
CABORCA, MEXICO, ACCESSWIRE / January 3, 2022 / Mexus Gold US (OTC PINK:MXSG) ("Mexus" or the "Company) announced that it has signed a letter of intent with Irmex Mining, a Mexican Corporation, for its Mabel project located in Northern Mexico. The agreement will include cash and a 10% Net Profit Interest (NPI). The Mabel property consists of 8 concessions and totals 1,459 hectares. "We've been in discussions with Irmex for quite some time and are thrilled that they are now involved to move the Mabel property forward." added Mexus CEO, Paul Thompson.
The company also announced that it is scheduled to ship activated carbon from production at its Santa Elena mine to a U.S. refiner during the first week of January. Leaching continues at the property with grades running from .39 oz to .72 oz Au with an average of .66 oz Au returning to the pregnant pond. Mexus' recent improvements of the leaching circuit should result in a steadier production schedule and increased recoveries.
Mr. Thompson added, "The signing of an agreement for the Mabel property allows us to turn our focus to finding the right JV partner for the Santa Elena project and to confirm what is believed to be a potential 1,000,000 plus ounce gold resource. I wish everyone a Happy New Year and am excited for what 2022 holds for Mexus and its shareholders."
CABORCA, MEXICO, ACCESSWIRE / January 3, 2022 / Mexus Gold US (OTC PINK:MXSG) ("Mexus" or the "Company) announced that it has signed a letter of intent with Irmex Mining, a Mexican Corporation, for its Mabel project located in Northern Mexico. The agreement will include cash and a 10% Net Profit Interest (NPI). The Mabel property consists of 8 concessions and totals 1,459 hectares. "We've been in discussions with Irmex for quite some time and are thrilled that they are now involved to move the Mabel property forward." added Mexus CEO, Paul Thompson.
The company also announced that it is scheduled to ship activated carbon from production at its Santa Elena mine to a U.S. refiner during the first week of January. Leaching continues at the property with grades running from .39 oz to .72 oz Au with an average of .66 oz Au returning to the pregnant pond. Mexus' recent improvements of the leaching circuit should result in a steadier production schedule and increased recoveries.
Mr. Thompson added, "The signing of an agreement for the Mabel property allows us to turn our focus to finding the right JV partner for the Santa Elena project and to confirm what is believed to be a potential 1,000,000 plus ounce gold resource. I wish everyone a Happy New Year and am excited for what 2022 holds for Mexus and its shareholders."
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